The Ranchi zonal office of the federal probe agency is conducting the search operation. Photo Credit: X/@dir_ed
“The Enforcement Directorate (ED) on Thursday (December 4, 2025) conducted searches in three cities in Uttar Pradesh as part of a money-laundering investigation into the operations of a Jharkhand ponzi scheme that is alleged to have duped depositors to the tune of ₹300 crore,” officials said.
At least 20 premises in Noida, Ghaziabad and Meerut are being searched in a case related to Maxizone ponzi scheme that was allegedly operated by two people — Chandra Bhushan Singh and Priyanka Singh.
The two accused are currently lodged in jail under judicial custody after they were arrested by the Jharkhand Police a few months back. The Ranchi zonal office of the federal probe agency is conducting the search operation.
“It is alleged that the investors were duped for more than ₹300 crore by promising unrealistic returns through the scheme,” the officials said.
Published – December 04, 2025 01:12 pm IST
